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Singapore vows 'brutal and unrelentingly hard' action on dodgy crypto players
- JCharante 4y agoA government run stablecoin sounds really interesting, should be good to find out more in 3 years.
- 5350-uiop-1130 4y agowell they can start with do kwon and terra labs which was based there afaik.
- korginator 4y agoHopefully there's more clarity on the official stance over the next few months. On one hand, it's easy to start and run a cryptocurrency business in Singapore, and there's a lot happening [1][2]. The effort by Mojaloop [3] itself looks like the aim is to deliver a reference model for digital payments, and they explicitly say they don't use a blockchain [4]. This looks more like something suited for a CBDC. It feels like they're testing the ecosystem, fine tuning their approach to investing and supporting less risky but functional technical approaches to payments, and tweaking their legislation iteratively. [1] https://www.channelnewsasia.com/singapore/mas-principle-approvals-crypto-com-sparrow-genesis-2763521 https://www.channelnewsasia.com/singapore/mas-principle-appr... [2] https://vulcanpost.com/791333/mas-crypto-regulation-pays-off-binance-triplea-singapore/ https://vulcanpost.com/791333/mas-crypto-regulation-pays-off... [3] https://mojaloop.io/ https://mojaloop.io/ [4] https://mojaloop.io/faq-items/does-mojaloop-utilize-blockchain/ https://mojaloop.io/faq-items/does-mojaloop-utilize-blockcha...